Blue Jasmine stars Cate Blanchett as the eponymous Jasmine, a wealthy New York housewife whose life – full of extravagant parties and wealthy possessions – is turned upside down when her husband (Alec Baldwin) turns out to be a white-collar criminal – which leaves Jasmine penniless and desperately reaching out for any sort of lifeline.

Jasmine leaves the East Coast behind her to start a new life in San Francisco, where she moves in with her sister (Sally Hawkins) and attempts to stop her rapid – and unexpected – drop in social class. Old habits die hard, though, and it doesn’t take long for the narcissistic and boozing Jasmine’s lingering elitist attitude to put her at odds with the blue-collar folk around her.

Blue Jasmine is this year’s addition to iconic Manhattan actor/writer/director Woody Allen’s filmography, and the story elements and character types featured in the film’s trailer very much lie in his wheelhouse. The subject matter doesn’t have the immediacy nowadays, when compared to a couple years ago (right after the Financial Crisis of 2007); then again, the Woodmeister hasn’t exactly been ahead of the curve with his art for a while now.

Nonetheless, Allen has (once again) assembled a top-notch cast, led by Blanchett; who, by all appearances, is embracing and diving head-first into the meaty role of the disillusioned and self-absorbed Jasmine. This film won’t have the picturesque backdrop of Allen’s recent European ventures (Vicky Cristina Barcelona, Midnight in Paris, etc.), but hopefully the trip to California – combined with a slight variation on Allen’s customary comedy-of-manners – will result in Blue Jasmine being added to the on-again/off-again director’s list of “hits” rather than “misses.”

Blue Jasmine begins a limited theatrical release in the U.S. on July 26th, 2013.